26 Seddon St, Ivanhoe VIC 307926 Seddon St, Ivanhoe VIC 3079Price: $1.409m
David is a long-time client. When we saw early signs of market recovery following COVID, he bought 2 ripper investments within 6 weeks.
This property is within an area that we rate for capital appreciation AND for development profits. It made perfect sense for him given his intentions to eventually develop for long-term retention. The disused power utility block in the corner of the block (separately titled and owned) complicated the listing a bit and stopped the vendors from selling at the fair market value of $1.45m.
We did the diligence with the utilities company, an environmental assessment and tree inspections.. A 2-3 townhouse development stacked up really well at the asking price, but given it had been on the market a while we negotiated hard and secured it at a bargain price of $1.385m. We then secured the disused 30m2 on terms agreed prior.
David appointed us to project manage the planning and design process with our preferred consultants. He and his wife were involved in all major decisions, and we landed really attractive plans that will appeal to young professional renters once they ultimately decide to build.
He had some kind words about us: “A few years ago I wanted to purchase a townhouse development site, it was something I always wanted do. I had experience in buy & hold property investing however I had never done a small development before so I researched several companies and found Property Analytics. Andrew has been great to deal with – he is honest, professional and reliable. I have gladly recommended him to family and friends.”
Lifestyle location with top amenities, schools and parklands
894m2 flat rectangular corner
Tired but rentable weatherboard
$1.409m
up to $1.480m
Private Sale
3 months
$570 /week
2.1% gross
House $1.380m | Unit $0.753m
5.6% p.a. over last 10 years
Affluent demographic; top amenities and schools; premium neighbouring suburbs; lifestyle location
Under market value; safe development profits; strong capital growth prospects
Two attached 4bed/3bath dwellings (one single level)
12 months from purchase to endorsed plans
$3.490m Turnkey
$4.200m once completed
$0.710m once completed
68% once completed
20% once completed
4.5% once completed
$1.635m
$0.820m
$2.000m
$1.100m
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“Andrew is pleasure to work with and is great at his job. He is diligent, efficient and communicates in a timely manner. Very professional, trustworthy and importantly has sound judgement regarding property matters. Highly recommended.”
“It has been pleasure working with Andrew. Very experience and knowledgeable in the development space. We were able to secure a suitable development site very shortly after engaging him.”
“Andrew Stone has helped immensely with my first investments and developments in the Melbourne market. He marries a high level of industry expertise with commercial common sense and a practical approach. His understanding of the planning process is second to none and has helped to save money and time.”
“We would like to thank Andrew for his guidance on our journey to purchasing our home. Throughout this process, Andrew had been very patient, receptive and understanding of our needs, and responded to our questions without hesitation or judgement. We couldn't recommend him enough!”
“Every encounter with Andrew, regardless of what assistance I required, was one of honesty, integrity and efficiency. I would highly recommend Andrew and Property Analytics to friends and family without hesitation.”
“We've completed 2 projects with Property Analytics and have been thrilled with the level of expertise and friendliness of the business. We look forward to adding more projects in the future.”
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“Walking 'in off the street' one day, I was instantly taken by Andrew's knowledge, enthusiasm and no-nonsense approach to property and development in the Melbourne market. I wouldn't hesitate in recommending Property Analytics.”
“Andrew has proven himself as extremely professional, reliable and acts with the highest integrity. Recommend to anyone looking to make their next move in property.”
“Property Analytics knows the Melbourne real estate market very well. Andrew continually provides us information on emerging trends and important market conditions, and explains statistics in simple language that people can understand.”
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